Homes are Affordable, Look at the Facts

According to CoreLogic the mortgage delinquency rates in CO for the month of May are as follows—

• 30 days or more late dropped to 1.8% this year from 2.1% last year.
• 90 days or more late dropped to 0.5% this year from 0.7% last year.
• Foreclosure rate is 0.1% down from 0.2% last year.

For metro Denver here are our mortgage delinquency rates—

• 30 days or more late dropped to 1.7% this year from 1.9% last year
• 90 days or more late dropped to 0.4% this year from 0.6% last year
• Our foreclosure rate remained at 0.1%.

So, if our delinquency rates are still dropping how can there be a bubble that is about to burst? Second, much is said that homes in metro Denver are not affordable. If this is true, then our delinquency rates would be RISING because people can’t afford the payments. Third, short sales and foreclosures are as common as the Dodo Bird.

Don’t let other peoples’ emotions cloud the facts. These are THE FACTS!